(Save the date: RealShareNew York comesto the Grand Hyatt, New York, NY, October9.)
NEW YORK CITY-Phase two of CubeSmart’s$560-million acquisition of a 1.6-million-square-foot portfoliofrom locally based Storage Deluxe has closed,HFF said Wednesday. An HFF team led by seniormanaging director Aaron Swerdlin representedlocally based Storage Deluxe in the sale of 16 unencumbered and sixencumbered self storage assets, located mainly in the fiveboroughs.
First announced this past October, the sale positions CubeSmart,a REIT headquartered in Wayne, PA, as the leading self storageowner and operator in New York City with 27 assets. It leavesStorage Deluxe with seven properties; the firm has another sixunder construction.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
